off market brooklyn

Listing Id: 46

THREE STORY MIXED USE BUILDING FOR SALE
EXCELLENT USER/INVESTMENT OPPORTUNITY
OPPORTUNITY ZONE

BROOKLYN, NEW YORK
Location: Nearby to Bushwick Ave
Lot Size: 16’ x 100’
Building Size: Ground Floor: 16’ x 98’ irr = 1,720 sq. ft. 2nd Floor: 16’ x 25’ irr = 400 sq. ft.
Stories: Two (2) Plus Basement
Gross Square Feet: 2,120 (Approximately) Above Grade

Zoning: (FAR)
Total Buildable Sq. Ft: Total Available Air Rights:
R6 (2.43) 3,888
1,768

Real Estate Taxes: $6,261.00
Description: A 16’ wide 3-unit two story apartment building. The first floor to the front is a one-bedroom duplex apartment the upper level goes to the
second floor. To the back on the first floor is a one-bedroom
apartment and a three-bedroom apartment.
The apartments have beautiful wood floors, full kitchens with
stainless steel appliances and marble counter tops. The apartments
have 12’ ceilings and get great sunlight.
The units are individually metered for gas and electric. All the meters
are in the basement. The apartments all have electric stoves, the gas
boiler and water heater is new.
The property is a prime investment opportunity because the units
are free market and in good condition an investor can charge full
market for them. Since the building has 837 square feet of air rights
the second floor can be developed into a duplex apartment.
The building also makes a great user opportunity, a user can
occupy the one-bedroom garden apartment. They can use it for
live/work and rent out the other two units for income.
Revenue:
Unit Description Unit Type Revenue LXP
First Floor Duplex: # 1 2 Bedroom Duplex Free Market $1,112 Mo-Mo First Floor Middle: # 2 1 Bedroom Apt Free Market $1,900 Mo-Mo

First Floor Back:
Total Monthly Income:
# 3 3 Bedroom Apt
Free Market $2,600 $5,612

Mo-Mo

Total Annual Income: $67,344
Expenses:
Real Estate Taxes: $6,261.00
Water & Sewer: $1,500

Insurance:
Heat: Paid By tenants
$2,300 $0.00

Electric: common areas $1,200 Repairs & Maintenance: $2,300 Total Annual Expenses: $13,561
Net Operating Income: $53,783 CAP RATE 3.6%
ASKING PRICE: $1,500,000


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